Investors' Soapbox AM

Prime Picks in Nonprime Mortgage Lenders

Springleaf, Santander Consumer and three others are set to take share.

March 26, 2014

Jefferies

We're updating our annual analysis of consumer credit-risk appetite at the big banks, which continues to show an aversion to nonprime credit-card lending.

We estimate $9.7 billion in sub-660 FICO [a product from FICO (ticker: FICO) that measures consumer-credit risk] credit-card balances were either charged-off or revoked in 2013, bringing the total to $132 billion since 2009. This is largely a result of postcrisis...